PANTELIS GROUP: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
PANTELIS GROUP
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€701,065
2024 · €2,993+€698,071
Equity
€20.5m
2024 · €19.8m+€701,065
Cash
€68,092
2024 · €166,919-€98,828
Balance sheet total
€32.8m
2024 · €33.7m-€950,763
Largest movements
Assets
- Tangible fixed assets -€629,367
down €629,367 (-2.7%), from €23.6m to €23.0m
of which Land and buildings: -€658,314
Equity and liabilities
- Debts after one year -€1.2m
down €1.2m (-20.3%), from €5.8m to €4.6m
- Short-term financial debts -€969,369
down €969,369 (-45.7%), from €2.1m to €1.2m
- Reserves +€879,888
up €879,888 (+11.2%), from €7.9m to €8.7m
of which Distributable reserves: +€1.0m
- Other debts +€665,877
up €665,877 (+28.6%), from €2.3m to €3.0m
- Trade debts -€539,860
down €539,860 (-93.0%), from €580,679 to €40,819
Income statement
- Taxes -€231,148
down €231,148 (-49.7%), from €464,870 to €233,723
- Gross operating margin -€177,258
down €177,258 (-8.8%), from €2.0m to €1.8m
- Financial charges -€97,770
down €97,770 (-21.5%), from €455,112 to €357,342
- Financial income -€96,133
down €96,133 (-19.8%), from €486,125 to €389,992
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€2,993
Gross operating margin
-€177,258
Staff costs
+€9,356
Depreciation
+€19,650
Write-downs
-€10,164
Other operating charges
+€17,148
Other operating items
+€532,781
Financial income
-€96,133
Financial charges
+€97,770
Taxes
+€231,148
Deferred taxes and other
+€73,775
Result 2025
€701,065
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€2.1m
Investment
-€135,862
Financing
-€2.1m
Cash 2024
€166,919
From operations (derived)
+€2.1m
Net result for the year
+€701,065
Depreciation
+€765,229
Receivables after one year
+€109,503
Receivables within one year
+€115,619
Deferred charges and accrued income
-€2,553
Provisions
-€55,909
Trade debts
-€539,860
Tax, wage and social debts
+€36,264
Advances received
+€350,000
Other debts
+€665,877
Investment (derived)
-€135,862
Investment in fixed assets (net)
-€135,862
Financing
-€2.1m
Debts after one year
-€1.2m
Current portion of long-term debt
+€45,193
Short-term financial debts
-€969,369
Cash 2025
€68,092
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,721,176 | €32,770,413 | -€950,763 | -2.8% |
| Fixed assets | 21/28 | €31,569,641 | €30,940,274 | -€629,367 | -2.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €23,644,641 | €23,015,274 | -€629,367 | -2.7% |
| Land and buildings | 22 | €23,640,032 | €22,981,718 | -€658,314 | -2.8% |
| Plant, machinery and equipment | 23 | €2,461 | €0 | -€2,461 | -100% |
| Furniture and vehicles | 24 | €2,148 | €33,556 | +€31,408 | +1,462% |
| Financial fixed assets | 28 | €7,925,000 | €7,925,000 | = | 0.0% |
| Current assets | 29/58 | €2,151,535 | €1,830,139 | -€321,396 | -14.9% |
| Amounts receivable after more than one year | 29 | €1,093,390 | €983,888 | -€109,503 | -10.0% |
| Trade receivables | 290 | €1,093,390 | €983,888 | -€109,503 | -10.0% |
| Stocks and contracts in progress | 3 | €294,294 | €294,294 | = | 0.0% |
| Stocks | 30/36 | €294,294 | €294,294 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €578,468 | €462,849 | -€115,619 | -20.0% |
| Trade receivables | 40 | €291,634 | €191,582 | -€100,052 | -34.3% |
| Other amounts receivable | 41 | €286,834 | €271,267 | -€15,567 | -5.4% |
| Cash at bank and in hand | 54/58 | €166,919 | €68,092 | -€98,828 | -59.2% |
| Deferred charges and accrued income | 490/1 | €18,463 | €21,017 | +€2,553 | +13.8% |
| Total equity and liabilities | 10/49 | €33,721,176 | €32,770,413 | -€950,763 | -2.8% |
| Equity | 10/15 | €19,757,012 | €20,458,077 | +€701,065 | +3.5% |
| Contributions | 10/11 | €2,118,612 | €2,118,612 | = | 0.0% |
| Capital | 10 | €2,118,612 | €2,118,612 | = | 0.0% |
| Issued capital | 100 | €2,118,612 | €2,118,612 | = | 0.0% |
| Revaluation surpluses | 12 | €9,783,634 | €9,604,811 | -€178,823 | -1.8% |
| Reserves | 13 | €7,854,767 | €8,734,654 | +€879,888 | +11.2% |
| Non-distributable reserves | 130/1 | €211,861 | €211,861 | = | 0.0% |
| Legal reserve | 130 | €211,861 | €211,861 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,522,668 | €3,400,860 | -€121,809 | -3.5% |
| Distributable reserves | 133 | €4,120,237 | €5,121,933 | +€1.0m | +24.3% |
| Provisions and deferred taxes | 16 | €1,600,199 | €1,544,290 | -€55,909 | -3.5% |
| Deferred taxes | 168 | €1,600,199 | €1,544,290 | -€55,909 | -3.5% |
| Amounts payable | 17/49 | €12,363,965 | €10,768,045 | -€1.6m | -12.9% |
| Amounts payable after more than one year | 17 | €5,821,470 | €4,637,445 | -€1.2m | -20.3% |
| Financial debts | 170/4 | €5,821,470 | €4,637,445 | -€1.2m | -20.3% |
| Amounts payable within one year | 42/48 | €6,542,495 | €6,130,600 | -€411,895 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €1,137,887 | €1,183,080 | +€45,193 | +4.0% |
| Financial debts | 43 | €2,121,449 | €1,152,080 | -€969,369 | -45.7% |
| Credit institutions | 430/8 | €2,121,449 | €1,152,080 | -€969,369 | -45.7% |
| Trade debts | 44 | €580,679 | €40,819 | -€539,860 | -93.0% |
| Suppliers | 440/4 | €580,679 | €40,819 | -€539,860 | -93.0% |
| Advances received on contracts in progress | 46 | - | €350,000 | +€350,000 | |
| Taxes, remuneration and social security | 45 | €371,867 | €408,131 | +€36,264 | +9.8% |
| Taxes | 450/3 | €368,488 | €404,192 | +€35,704 | +9.7% |
| Remuneration and social security | 454/9 | €3,379 | €3,939 | +€560 | +16.6% |
| Other amounts payable | 47/48 | €2,330,613 | €2,996,490 | +€665,877 | +28.6% |
| Non-recurring operating income | 76A | €295,100 | - | -€295,100 | |
| Remuneration, social security and pensions | 62 | €72,271 | €62,915 | -€9,356 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €784,880 | €765,229 | -€19,650 | -2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,164 | +€10,164 | |
| Other operating charges | 640/8 | €163,187 | €146,039 | -€17,148 | -10.5% |
| Non-recurring operating charges | 66A | €532,781 | - | -€532,781 | |
| Gross operating margin | 9900 | €2,007,834 | €1,830,576 | -€177,258 | -8.8% |
| Operating profit (loss) | 9901 | €454,716 | €846,229 | +€391,513 | +86.1% |
| Financial income | 75/76B | €486,125 | €389,992 | -€96,133 | -19.8% |
| Recurring financial income | 75 | €486,125 | €389,992 | -€96,133 | -19.8% |
| Financial charges | 65/66B | €455,112 | €357,342 | -€97,770 | -21.5% |
| Recurring financial charges | 65 | €455,112 | €357,342 | -€97,770 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €485,730 | €878,879 | +€393,149 | +80.9% |
| Transfer from deferred taxes | 780 | €55,909 | €55,909 | = | 0.0% |
| Transfer to deferred taxes | 680 | €73,775 | - | -€73,775 | |
| Income taxes | 67/77 | €464,870 | €233,723 | -€231,148 | -49.7% |
| Profit (loss) for the period | 9904 | €2,993 | €701,065 | +€698,071 | +23,320% |
| Transfer from tax-exempt reserves | 789 | €121,809 | €121,809 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €221,325 | - | -€221,325 | |
| Profit (loss) for the period to be appropriated | 9905 | -€96,523 | €822,874 | +€919,396 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.